Upham Group, the brewer and pub operator, has secured a new £8.5m funding deal from HSBC to help with its continued expansion across the South of England.
The new funding, which sees an extension to the group’s debt facility, will be used to help grow the 16-strong group to between 25 and 30 sites by 2020.
Group finance director Robb Harris said the company, which was eyeing an IPO prior to Brexit, was still keeping its options open about potential exits for its investors.
The new funding will be initially invested in the group’s most recent acquisition, The Station House in Haslemere, which Harris said represented a new kind of model for the group.
The site, which is opposite the railway station, operates as a bar, restaurant, café and also specialises in light bites, as well as offering 16 bedrooms.
Harris said: “This deal comes at an important point in the development of our business and provides us with the solid financial foundations we need to continue our expansion. HSBC’s flexibility and adaptability also means we can concentrate on identifying character pubs that fit our expanding portfolio.”
